W.P.(CRL) 1093/2021 Page 1 of 10

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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W.P.(CRL) 1093/2021

Date of decision: 3rd AUGUST, 2021

IN THE MATTER OF:

DR VIJAY KUMAR SHARMA & ANR.

..... Petitioners

Through

Mr. Praveen Chaturvedi, Advocate

versus

DY COMMISSIONER OF POLICE, ECONOMIC OFFENCE WING

& ANR.

..... Respondents

Through

Mr. Avi Singh, ASC with Mr. Tanuj

Bhadana, Advocate

Mr. Amit Mahajan, CGSC for

respondent No.2

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

SUBRAMONIUM PRASAD, J.

1.

This writ petition under Article 226 of the Constitution of India has

been filed with the following prayers:

2021:DHC:2302

W.P.(CRL) 1093/2021 Page 2 of 10

2.

Notice was issued on 04.06.2021. Status Report has been filed. As per

the Status Report, a number of complaints were received against one Sanjay

Bhati and others of M/s Garvit Innovative Promoters Limited, having its

registered office at Plot No.1, Chiti, Dadri, District Gautam Budh Nagar,

Uttar Pradesh, regarding cheating of approximately Rs.42 thousand crores.

The Status Report reveals that the accused induced gullible victims to invest

in a bike and receive monthly pay back, including principle and rental

income on that bike for one year under the scheme. It is stated that being

lured by the said scheme a number of persons invested money. It is stated

that the accused absconded with the money and, on the basis of the

allegation and inquiry conducted, FIR No.123/2019 dated 06.07.2019, was

registered at Police Station Economic Offences Wing for offences under

Sections 420/406/120B IPC. Investigation was carried out. During

investigation it was found that M/sGarvit Innovative Promoters Limited,

was not registered as a NBFC with the RBI and hence it was not authorized

to initiate any collective investment scheme. Total 1544 complaints have

been received from multiple victims till the filing of the Status Report. The

role of the petitioner has been stated in the Status Report and the same reads

as under:

2021:DHC:2302

W.P.(CRL) 1093/2021 Page 3 of 10

3.

Material on record indicates that the proceedings under the Prevention

of Money Laundering Act, 2002 (hereinafter referred to as 'The PMLA')

have been initiated against the petitioner. An application under Section 17(4)

of the PMLA was made by the petitioner on 23.03.2021 for retention of the

seized records and properties. Show cause notices have been issued to the

2021:DHC:2302

W.P.(CRL) 1093/2021 Page 4 of 10

petitioner. The material on record indicates that proceedings under Section 5

of the PMLA have been initiated against the accused persons, including the

petitioner herein, attaching various movable and immovable properties.

Show cause notices have also been issued against the accused persons

including the petitioner herein, under Section 5(5) of the PMLA stating as to

why the properties attached on 20.07.2020 should not be confirmed. The

petitioner approached this Court by filing W.P.(C) 3565/2021 with the

following prayers:

W.P.(C) 3565/2021 is pending.

4.

The instant writ petition has been filed by the petitioner stating that

the Economic Offence Wing (hereinafter referred to as "the EOW") cannot

continue the investigation on the ground that parallel investigation is being

undertaken by the respondent No.2 under the PMLA.

5.

Heard Mr. Praveen Chaturvedi, learned counsel for the petitioner, Mr.

Avi Singh, learned ASC for the State and Mr. Amit Mahajan, learned CGSC

appearing for the respondent No.2 and perused the mat